Analysis of the Global Ion Exchange Resins Market in terms of Market Dynamics in Historic and Forecast Period
Ion exchange resins are small and insoluble matrices produced from organic polymer substrate. These resins are primarily used for purification of water in wastewater treatment plants & chemical industries. Their porous surfaces help to easily capture and release ions, which makes them highly effective in purification of organic compounds and radioactive elements. The global demand for ion exchange resins is expected to increase over the forecast period, owing to their advanced purification properties and high feasibility in chemical industries. Increasing adoption of organic compounds and rapid industrialization across the world are major factors fueling growth of the global ion exchange resins market. High demand for clean and purified water increasing demand for innovative & highly-evolved water purification techniques, which in turn is fueling market growth.
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Global Ion Exchange Resins Market: Market Dynamics
Increasing awareness regarding purification of water in industrial applications is expected to drive growth of global ion exchange resins market. Increasing demand for ion exchange resins in food & beverages, power generation, pharmaceuticals, domestic and waste water treatment, electrical & electronics and chemicals & fertilizers are expected to create highly conducive environment for market growth. Furthermore, growing awareness related to use of sustainable products is expected to increase demand for environment friendly ion exchange resins.
Regulatory authorities such as EPA and European Commission are focusing on restriction of use of chemicals in water treatment for industrial, institutional and commercial-based applications. These authorities have passed various regulations to achieve targets, which restraining growth of ion exchange resins.
Global Ion Exchange Resins Market: Regional Overview
Asia Pacific is expected to attain significant growth in ion exchange resin market over the forecast period, owing to rapidly developing economies of Asia such as China and India are expected to witness robust industrial growth, which in turn increases adoption of water purification techniques involving ion exchange resins. Rise in government funding for construction, industrial, and infrastructure development in economies of Middle East and Africa such as UAE, Oman and Saudi Arabia are also expected to increase the demand for global ion exchange resins market.
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North America and Europe are experiencing slow growth in the market, as stringent government regulations on use of chemicals for water treatment in these regions are imposing a negative impact on growth of the market.
Manufacturing companies such as the Dow Chemical Company and Resin Tech Inc. are focusing towards product launch and expansion to cater to the growing demand for ion exchange resins.
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